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Tax Laws Amendment (Research and Development) Bill 2010

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2008-2009-2010

 

THE PARLIAMENT OF THE COMMONWEALTH OF AUSTRALIA

 

HOUSE OF REPRESENTATIVES

 

TAx Laws AMENDMENT (Research and DEVELOPMENT) BILL 2010

Income taX Rates AMENDMENT (RESEARCH AND DEVELOPMENT) BILL 2010

 

CORRECTION TO THE

EXPLANATORY MEMORANDUM

 

Chapter 2

Paragraph 2.12- omit ‘355-25(a)’, substitute ‘355-25(1)(a)’.

Paragraph 2.16 - omit ‘355-25(b)’, substitute ‘355-25(1)(b)’.

Paragraph 2.23 - omit ‘355-35(2)(a)’, substitute ‘355-30(2)(a)’.

Paragraph 2.32 - omit ‘355 35(2)(a)’, substitute ‘355-30(2)(a)’.

Chapter 3

Paragraph 3.3 - omit ‘Part 3 of Schedule 3 contains’, substitute ‘Schedule 3 contains’.

Paragraph 3.18 - omit ‘355-40’, substitute ‘355-35’.

Paragraph 3.19 - omit ‘355-40’, substitute ‘355-35’.

( continued overleaf )

 

(Circulated by the authority of the

Treasurer, the Hon Wayne Swan MP)

Chapter 3 continued

Paragraph 3.24 - omit ‘section 355-40’, substitute ‘subsection 355-35(3)’.

Paragraph 3.46 - omit ‘355-115’, substitute ‘355-110’.

Paragraph 3.49 - omit ‘355-220(a) and (b)’, substitute ‘355-220(1)(a) and (1)(b)’.

Paragraph 3.50 - omit ‘355-210(d) and (e)’, substitute ‘355-210(1)(d) and (e)’.

Paragraph 3.60 - omit ‘355-220(d)’, substitute ‘355-220(1)(d)’.

Paragraph 3.61 - omit ‘355-220(e)’, substitute ‘355-220(1)(e)’.

Paragraph 3.61 - omit ‘355-20(2)’, substitute ‘355-220(2)’.

Paragraph 3.82 - omit ‘355-305(d)’, substitute ‘355-305(1)(d)’.

Paragraph 3.131 - omit ‘Schedule 1’, substitute ‘Schedule 3’.

Example 3.14 - omit ‘Lisowski Crushing has a turnover of $100,000’, substitute ‘Lisowski Crushing has a turnover of $100 million’.

Paragraph 3.157 - omit ‘item 44’, substitute ‘item 47’.

Paragraph 3.205 - omit ‘355-699’, substitute ‘355-700’.

Chapter 4

Paragraph 4.12 - omit ‘items 4 to 5’, substitute ‘items 4 and 5’.

Paragraph 4.41 - omit ‘items 56 to 68’, substitute ‘items 55 to 70’.

Chapter 5

Paragraph 5.61 - in the third bullet point, omit ‘In relation to each activity the subject of the request,…’, substitute ‘In relation to each activity that is the subject of the request,…’.

Paragraph 5.84 - omit ‘and section 30A’.

Paragraph 5.92 - in the sentence ‘All applications for these findings under must be in the approved form and accompanied by a fee (if any) specified in the regulations’, omit ‘under’.

Paragraph 5.111 - omit ‘Schedule 2, item 1, subsection 27A(2)’, substitute ‘Schedule 1, item 1, subsection 355-705(2)’.

Paragraph 5.151 - omit ‘subsection 30C(3)’, substitute ‘subsections 30C(2) and 30C(3)’.

Paragraph 5.157 - insert ‘[Schedule 2, item 1, section 30E]’.

Paragraph 5.158 - omit ‘[Schedule 2, item 1, section 30E]’.